ZURICH (Reuters) -The Swiss National Bank, the Swiss Finance Ministry and the U.S. Treasury Department have reconfirmed that they do not target exchange rates for competitive purposes. In a joint statement, Switzerland and the U.S. both said they did not use exchange rates to win an unfair advantage or prevent adjustments to their balance of payments. A joint statement "confirms that foreign exchange market interventions are an important monetary policy instrument for the SNB in ensuring appropriate mo ...

There’s no longer much point in giving a running commentary on the strength of the franc, says Swiss National Bank President Martin Schlegel https://t.co/EQq1pOwpHW ...

The Swiss National Bank said Thursday that tariffs on goods to the U.S. present a "major challenge" for exporters, with its economy set to take a hit.The country has swallowed some of the highest duties imposed by President Donald Trump's administration, with a 39% tariff rate implemented in August. It came after a Swiss delegation led by the country's President Karin Keller-Sutter failed to secure a trade deal after meeting with Trump in Washington D.C."The U.S. tariffs present a major challenge for affect ...

Core Viewpoint - The Swiss National Bank (SNB) has decided to maintain its interest rates at 0%, indicating a continued accommodative monetary policy stance to support the economy amid ongoing uncertainties [1] Group 1: Monetary Policy - The SNB's decision to hold interest rates at 0% reflects its commitment to providing monetary support in light of economic challenges [1] - This policy aims to foster economic stability and growth, particularly in the context of global economic fluctuations [1] Group 2: Economic Context - The SNB's stance comes as inflationary pressures remain moderate, allowing for the continuation of low interest rates without immediate concerns of overheating the economy [1] - The decision is also influenced by external factors, including global economic conditions and trade dynamics, which could impact Switzerland's economic outlook [1]

The Swiss National Bank kept borrowing costs unchanged, halting its easing cycle as officials shirk from a return to negative interest rates https://t.co/dIKXrOsOT0 ...

Core Viewpoint - The Swiss National Bank (SNB) is expected to maintain its policy rate at zero through 2026 due to stable inflation and a steady currency, as indicated by a majority of economists in a recent Reuters poll [1][3][6]. Interest Rate Outlook - The SNB currently has the lowest interest rate among major central banks, and while inflation is gradually increasing, it remains low, making it unlikely for rates to go negative again [2][3]. - A significant majority of economists (over 80%) anticipate that rates will remain unchanged for the rest of the year, with 21 out of 25 predicting the rate will still be at 0.00% by the end of 2026 [6]. Economic Indicators - Inflation in Switzerland was recorded at 0.2% last month, well within the SNB's target range of 0%-2%, and is expected to average 0.2% for the year and 0.6% in 2026 [5][6]. - The Swiss franc has appreciated only 0.4% against the euro since the beginning of the year and is projected to depreciate by more than 2% over the next 12 months [5]. Central Bank Strategy - SNB Chairman Martin Schlegel has expressed concerns about the "undesirable side effects" of negative rates, suggesting a preference for maintaining the current rate [3]. - The SNB retains the option to intervene in the foreign currency market to manage any significant appreciation of the Swiss franc, which is viewed as a more favorable strategy than introducing negative rates [7].

The Swiss Banking Alliance, in partnership with PostFinance, Sygnum Bank, and UBS, recently conducted its first-ever legally binding bank payment transaction facilitated through a public blockchain. According to a study published by the Alliance, the group conducted a pilot program to investigate the viability of smart contracts and token-based deposits compared to traditional account-based banking systems. The “Deposit Token” trial tested interbank deposit transfers on public blockchain to ensure their ...

Switzerland’s central bankers appear to have embraced a new doctrine on containing the strength of the franc: pick your battles https://t.co/e7NTfzKeuD ...

Monetary Policy - The Swiss National Bank is prepared to cut borrowing costs below zero if necessary [1]

The Swiss National Bank unveiled plans to release a so-called summary of monetary discussions in what may become a communication revolution for an institution traditionally shrouded in secrecy https://t.co/HZZBROkLsu ...